04:46 PM EDT, 09/03/2025 (MT Newswires) -- JBT Marel ( JBTM ) said late Wednesday it plans a private offering of $500 million of convertible senior notes due 2030.

The company said it will grant initial buyers a 13-day option to purchase up to an additional $75 million of the notes.

Net proceeds will be used in part to cover the cost of convertible note hedge and warrant transactions with certain dealers.

Remaining proceeds will be used to repay borrowings under its revolving credit facility. The company said it intends to draw on the facility or use cash on hand to repay or refinance its 0.25% convertible senior notes due 2026.

Shares of JBT Marel ( JBTM ) were down 2.5% in after-hours trading.